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Kiwi pairs were able to recover from early week China & Australia related weakness, but not enough to end the week as a net winner.

Overlay of NZD Pairs: 1-Hour Forex Chart
Overlay of NZD Pairs: 1-Hour Forex Chart

New Zealand Headlines and Economic data

Monday:

Tuesday:

Wednesday:

  • Australia’s flat CPI raises prospect of rate cuts – Because of New Zealand and Australia’s close proximity and trading relationship, the Kiwi suffered along with the Aussie after this disappointing CPI update, a typical behavioral occurrence with many other Australian economic data releases.

Thursday:

  • There were no direct New Zealand catalysts for the broad rally on Thursday, but the argument could be made that the better-than-expected U.S. durable goods data sparked global risk-on sentiment as it was another possible signal of economic stabilization in the globe.

Friday:

  • No economic updates or news catalysts from New Zealand.